Welcome to our dedicated page for Reliance Global Group news (Ticker: RELIW), a resource for investors and traders seeking the latest updates and insights on Reliance Global Group stock.
Reliance Global Group, Inc. (NASDAQ: RELI; warrants trading as RELIW) issues frequent updates that highlight its activities at the intersection of InsurTech, digital assets, and technology investments. News about the company often centers on the development and scaling of its insurance technology platforms, portfolio optimization within its insurance agency operations, and capital markets or treasury decisions disclosed through press releases and SEC filings.
Company announcements regularly describe progress with the RELI Exchange business-to-business InsurTech platform and the 5minuteinsure.com consumer platform, both of which are positioned by Reliance Global Group as AI- and cloud-enabled tools for insurance distribution. Updates have also covered the sale of non-core insurance agencies and the redeployment of proceeds toward debt reduction and investment in core technology-forward initiatives.
Another recurring theme in the company’s news flow is its Digital Asset Treasury (DAT) strategy. Reliance Global Group has released multiple statements about acquiring and consolidating digital asset positions, including a strategic decision to concentrate its Digital Asset Treasury in Zcash (ZEC). These releases discuss the company’s internal view of privacy-enabled digital assets and their role in its long-term treasury approach.
In addition, the company has publicized the formation of EZRA International Group, a division focused on acquiring controlling stakes in high-tech Israeli companies, and has reported a non-binding term sheet to acquire a majority equity position in Scentech, a diagnostics company developing AI-based breath analysis technologies. News items also cover governance and advisory developments, such as the appointment of a chairman to the Crypto Advisory Board, as well as financial updates and conference call announcements.
Investors and observers following RELIW-related news can expect coverage of InsurTech platform developments, insurance portfolio transactions, digital asset treasury decisions, technology-focused investments through EZRA International Group, and regulatory and financing disclosures that the company releases through GlobeNewswire and SEC filings.
Reliance Global Group (Nasdaq: RELI; RELIW) announced a significant business update, reporting a 73% increase in revenue for 2022 compared to 2021. This growth was attributed to the performance of their ten operating subsidiaries. The newly launched RELI Exchange, an InsurTech platform for insurance agents, has seen a nearly 200% surge in agency partners since July 2022. As of December 31, 2022, the platform expanded its tools, including a life insurance quotation tool introduced in February 2023. The company aims to utilize RELI Exchange as a growth catalyst, enhancing its offerings and shareholder value.
For more information, the complete financial results are available in the Company’s Annual Report on Form 10-K.
Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) announced a conference call scheduled for March 30, 2023, at 4:30 PM ET to discuss its 2022 financial results and provide a business update. The call can be accessed via telephone or webcast, with a replay available on the company’s investor relations website until March 30, 2024. Reliance combines artificial intelligence and cloud-based technologies to enhance the traditional insurance model, focusing on its B2B InsurTech platform, RELI Exchange, and B2C platform, 5MinuteInsure.com, aimed at improving insurance quote accessibility.
Reliance Global Group, Inc. (NASDAQ: RELI; RELIW) has successfully completed a private placement of common stock and warrants, raising capital for general working purposes. The offering included the sale of 155,038 shares of common stock and 897,594 pre-funded warrants, totaling 2,105,264 shares underlying the common warrants. Each unit was sold at an effective price of $3.80, while the common warrants are set to be exercisable at an initial price of $3.55 per share six months after issuance, expiring in five and a half years. The capital raised will be directed towards operational needs as Reliance continues to blend AI technology with traditional insurance services.
Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) announced preliminary revenue guidance for the 2022 fiscal year, projecting revenues exceeding $16.5 million, marking a growth of over 70% compared to 2021. This rise is attributed to the performance of its subsidiaries, particularly following the acquisition and rebranding of Barra & Associates as RELI Exchange. The company aims to leverage the RELI Exchange InsurTech platform for further growth. Looking into 2023, Reliance expects this platform to significantly drive organic growth and enhance shareholder value.
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